HKMA doubles RMB Business Facility to RMB200 billion
The Hong Kong Monetary Authority (HKMA) has doubled the size of its RMB Business Facility (RBF) from RMB100 billion to RMB200 billion, effective February 2, 2026. The expansion aims to meet market development needs and reinforce Hong Kong's role as a global offshore RMB business hub.
Overwhelming demand drives expansion
The RBF, launched in October 2025 with strong support from the People's Bank of China (PBoC), provides banks with a stable and lower-cost source of Renminbi (RMB) funds.
This enables them to offer RMB financing to corporate clients, supporting the wider use of RMB in the real economy.
The initial RMB100 billion aggregate quota was fully allocated to 40 participating banks, demonstrating overwhelming demand.
The facility has expanded eligible end-users to include corporate clients of overseas intragroup banking entities and eligible activities to cover capital expenditure and working capital term loans.
Its usage has increased, with some banks reaching their quota caps, and it has successfully channeled offshore RMB funds to regions such as ASEAN, the Middle East, and Europe.
Reinforcing Hong Kong's hub status
The doubling of the RBF to RMB200 billion provides capacity to raise quotas for existing banks and onboard new participants.
HKMA Chief Executive Eddie Yue stated this expansion ensures timely and sufficient RMB liquidity, supporting banks' RMB business and the real economy.
He emphasized it reinforces Hong Kong's status as a global offshore RMB business hub.
The HKMA will monitor the RBF and collect market feedback for enhancements.
Yue also welcomed PBoC's support for the Hong Kong RMB Clearing Bank to issue onshore negotiable certificates of deposit, strengthening its liquidity access.